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- Corum Group (COO) has entered a trading halt ahead of an upcoming capital raise
- It is not known how much the company is aiming to raise and where the funds will go
- Company shares will be paused until Monday, November 9, or when more details are released about the raise
- Over the September quarter, the company spent $1.7 million on operating activities and ended the quarter with around $10 million in cash
- On the market, Corum last traded at 7 cents per share on November 4
Corum Group (COO) has entered a trading halt ahead of an upcoming capital raise.
So far, it is unknown how much the company is aiming to raise and where the funds will go.
Company shares will be paused for the rest of the week and will commence trading on Monday, November 9, or when more details are released about the raise.
The Corum Group is an Australian company that owns businesses in technology and software development. The business includes Corum Health Services and Corum eCommerce.
Corum Health is a software and hardware reseller. While Corum eCommerce is a provider of commercial payment solutions to some of Australia’s best-known corporate entities, government bodies and the real estate industry.
On Tuesday, Corum appointed Eryl Baron as its new Company Secretary. Erly replaces Julian Rockett, who has been in the role since August 2020.
This is not the software developers first capital raise, as it recently raised nearly $3 million in September.
Over the September quarter, the company burnt through $1.7 million on operating activities and ended the quarter with around $10 million in cash.
On the market, Corum last traded at 7 cents per share on November 4.
